Everyone sets aside a portion of their income for savings. While employed, income is consistent, but retirement often brings financial challenges. LIC's Saral Pension Plan can alleviate these concerns. Learn about its benefits.
To secure your future after retirement, everyone should plan for their future income. LIC's Saral Pension Plan frees you from this tension. It's the best pension plan for post-retirement income, and couples can even opt for it jointly.
A key feature of this plan is the single premium payment. After that, you receive a fixed pension amount for life. You can choose to receive it monthly, quarterly, half-yearly, or annually.
The pension amount is determined by the premium paid. The minimum monthly pension is INR 1000, quarterly INR 3000, half-yearly INR 6000, and annually INR 12000. Higher premiums result in proportionally higher pensions.
This LIC scheme is designed for individuals between the ages of 40 and 80. Policyholders have the option to surrender the policy after 6 months if desired.
In this LIC scheme, if the policyholder passes away, the nominee receives the entire invested amount. The initial pension amount remains consistent throughout the policy term.
If the policyholder requires funds and prefers not to surrender the policy, this LIC plan offers a loan facility, making it an excellent choice in every aspect.